Republic Bancorp in Louisville, Ky. sold its Republic Bank Finance division to CAN Capital Merchant Services. The company disclosed in a regulatory filing that the sale, first announced in December, included $81 million of loans and about $1 million of related liabilities. Republic will record a $6 million pretax gain, net of broker commissions. Republic acquired the business as part of its March 2023 purchase of CBank.

Bank of Marin Bancorp in Novato, Calif., will restate financial statements for 2023 and 2024, as well as multiple interim periods in 2024 and 2025, to address an issue tied to classifying reciprocal deposits. The company disclosed in a regulatory filing that errors were identified during an annual review process tied to preparing the 2025 consolidated financial statements. The board decided to restate results after consulting with the audit committee,

A group is looking to open a bank in Tampa, Fla. Organizers of the proposed New South Bank said in a LinkedIn post that they aim to serve small businesses across Florida. "Our formation is based on a clear observation: many owner-operated and closely held companies want direct access to experienced bankers, informed guidance on SBA and USDA lending programs, and timely, transparent decision making," the post said. "We believe

Port Washington State Bank in Wisconsin has a new CEO with a familiar last name. The $1 billion-asset bank said in a press release that James Schowalter had succeeded his father, Steven Schowalter, as its leader. The younger Schowalter, who remains president, is the fifth generation of his family to lead the bank. Steve Schowalter will remain executive chairman of the bank and president of the holding company, Port Bancshares.

A blank-check company formed to buy failed banks was among the bidders for Metropolitan Capital Bank & Trust in Chicago, which was closed last month. Porticoes National Bank, formed in 2023, was one of six entities that bid on Metropolitan. First Independence Bank in Detroit would end up buying $212 million in deposits and $251 million of assets from the Federal Deposit Insurance Corp. The other bidders were Anchor Bank

Dime Community Bancshares in Hauppauge, NY., is planning a name change. The $15 billion-asset company said in a press release that it plans to rebrand as Dime Commercial Bancshares. Its bank would become Dime Commercial Bank. The changes, which require shareholder approval, are expected to happen soon after the May 28 annual meeting.

Payoneer has applied with the Office of the Comptroller of the Currency for a national trust bank charter. The fintech said in a press release that the proposed PAYO Digital Bank would support stablecoin-enabled infrastructure for global businesses. “Payoneer is at the forefront of cross-border payments, and we believe stablecoins will play a meaningful role in the future of global trade,” John Caplan, the fintech's CEO, said in the release.

First Federal Bank of Wisconsin in Waukesha has a new CEO. The bank said in a press release that Steve Wierschem had succeeded Edward Schaefer, who remains chairman. Schaefer also remains president and CEO of the holding company, FFBW Inc. Wierschem, who was chief financial officer, will remain president. “Steve continues to perform at a very high level, and his promotion … is a natural next step,” Schaefer said in